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Your six steps to prepare for business lending
When considering a loan application, lenders want to see a strong and healthy business.
We’ve outlined six steps to help you get a head start when applying for lending.
Before you think about borrowing, it’s important to be clear about your business goals and how you plan to achieve them.
Are you aiming to expand rapidly or boost profitability? Perhaps you need to take on more staff?
Most lending applications require a business plan, especially if you’re a start-up or don’t have 12 months of financial records yet.
If you already have a business plan, it could be worthwhile reviewing it, to ensure it’s still up to date.
Need to create a business plan?
If you have an accountant or financial adviser, share your business plan with them.
They can ensure your business plan aligns with your financial strategy and provide support during the lending assessment process.
Want to know more?
Read about the four Cs of credit.
Link your accounting software (MYOB, Xero or Intuit QuickBooks) to your business bank account to save time and get a clear view of your finances.
Accounting software platforms provide most of the financial records that banks need to assess your lending application.
Fast, easy online business loans and overdrafts with ANZ GoBiz
- Apply for business loans, business car loans and overdrafts, and if eligible, get conditional approval in minutes.
- All you need is a minimum of 6 months of reconciled business financial data connected to eligible accounting software.
Want to know more about linking your accounting software to your bank account?
- Learn how to link your bank feeddisclaimer
- The benefits of connecting your accounting software
ANZ customers exclusive accounting software offer
MYOB offer: Pay for one month of MYOB – get 11 months freedisclaimer
Depending on your circumstances, some loan applications may require a cash flow forecast. This forecast predicts your cash incomings and outgoings over a set period and shows the expected cash surplus or deficit at the end of that period.
Take some time to understand cash flow forecasting before you apply for a loan or get help from your accountant or financial advisor.
Want to master cash flow?
Helpful ANZ resources:
- Cash flow forecast template (xlsx)
- The importance of small business cash flow
- Cash flow forecasts and templates: What you need to know
- Fast, flexible cash flow solutions for business
Tip
Some accounting software can generate cash-flow forecasts for you, saving you time and effort.
Take the time to understand what types of business lending solutions are available. Whether you’re looking for a loan to grow your business, or finance for a new vehicle or equipment, knowing what’s available can help you make the right choice for your needs.
Choose the right lending solution for your business
Understand your business loan options.
Lending product options
Explore our range of flexible finance solutions.
Apply for business lending via ANZ GoBiz
Eligible applicants can easily apply for the following online in just 20 minutes:
It’s never too early to talk to us about your business and where you want to go, especially if you think you may need to borrow to get there.
No matter what stage you’re at, we’re here to guide you to the right solution for your business.
Our business lending managers are here to talk. There’s no obligation.
Get the conversation started:
The importance of a business emergency fund
4-minute read
Life can unpredictable, but your finances don't have to be. ANZ teaches you how a business emergency fund could keep your business afloat in uncertain times.
Business financial documents: Master the basics
3-minute read
Keeping good financial records is the key to understanding the financial position of your business. ANZ is here to help with financial basics.
Business plans and templates: How to get started
3-minute read
Starting a new business? A business plan & template can make all the difference. Learn how to use these tools by exploring ANZ's resources.
Only available on ANZ Internet Banking and ANZ Internet Banking for Business. ANZ bank feeds are compatible with the majority of retail or commercial transaction, deposit, lending, funds management and credit card accounts. ANZ bank feeds are not compatible with Asset Finance accounts, ANZ Smart Choice Super products or Foreign Currency accounts.
ReturnThis offer does not constitute or imply endorsement or recommendation of any third-party organisation, product, or service by ANZ. Any offer does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you. Terms and conditions apply. For eligibility criteria, terms, and conditions, visit the ANZ offer page for MYOB.
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